The electronics company with head office in Horsens and a subsidiary in China has seen indications that the crisis is subsiding

BB Electronics, who produces electronics for customers within the industry, telecom and medical segments, is right now experiencing a noticeable order intake.

- Since October last year we have been pleased with an increasing order intake and we now believe that we are dealing with a permanent tendency, CEO for BB Electronics Knud Andersen evaluates. This makes BB Electronics a delicate indicator for the actual, global financial situation.

- We interpret the order intake as an expression of a positive increase in some businesses in some markets. It does not go as fast as before the crisis, but we have a good feeling that it does go in the right direction, Knud Andersen explains.

Just as other companies BB Electronics has felt the global recession as well. In 2009 the company has experienced a decrease in turnover of approximately 25 % to MDKK 550 and an EBITDA before special items of MDKK 4. Despite the above BB Electronics has succeeded in realising a positive free cash flow.

- The result is not satisfying. However, our decrease is lower than the market in general and as part of an extremely cyclical industry, we must adapt to the facts, Knud Andersen continues.

Already in 2007 BB Electronics grasped the nettle before the financial recession started. In 2007 BB Electronics initiated a comprehensive LEAN project, which made the company well prepared when the crisis hit with full force during 2009.

- Looking back we initiated the project at the best possible time. Together with a positive development in cash flow, a strong solvency ratio, consolidation of the Danish activities in Horsens and unremitting investments in equipment and development of the company's business processes, mean that the company is well prepared as regards playing an important part in the future market growth, Knud Andersen explains.

BB Electronics, who employs approximately 600 employees in Horsens and Suzhou, expects a positive bottom line in 2010 and a turnover on a par with 2009.

Annual Report 2009 for BB Electronics A/S (Danish version)

Further information:
Chief Executive Officer Knud Andersen +45 22 23 50 60